Kevin Rudd

[noirua]

Re: Rudd in 'quantum of stimulus' calculation call

I'll tell you this and I'm sure most would agree, if the supermarkets had Australian made sectioned off I would shop there first but they dont it's all mixed in together and no one can be bothered reading all the labels, the same will happen with GM food, we wont know and thats the way they like it.

In the UK a big price war, by supermarkets, has just started. Food and goods marked down by as much as 60%. Many stores are going out of business at an amazingly fast rate. Tesco, Asda, Sainsburys, Morrisons, and others seem to see a massive problem here.
Survival of the fittest I suppose.

 

[noirua]

Re: Rudd in 'quantum of stimulus' calculation call

Noirua, I think in Mr Rudd's eyes, his job is primarily furthering his own CV abroad, and on the home front ensuring the polls continue to reflect his hand-out inspired popularity.

If I hear too many more times from recipients of the pre-Christmas gift, "thank you Mr Rudd", I will spit. "Thank you, Australian tax payers" would be more appropriate.

Mr Rudd does really know how bad it is likely to get. He needs money coming in from Japan, South Korea and China. No hope now of any help from anywhere else.
He'll be back when his job is done. These are indeed desperate times.
Good Luck Julia

 

[Calliope]

Re: Rudd in 'quantum of stimulus' calculation call

I think that any stimulus packages that encourage people to continue bad spending habits are bad policy.

Noirua, I think in Mr Rudd's eyes, his job is primarily furthering his own CV abroad, and on the home front ensuring the polls continue to reflect his hand-out inspired popularity.

If I hear too many more times from recipients of the pre-Christmas gift, "thank you Mr Rudd", I will spit. "Thank you, Australian tax payers" would be more appropriate.

I agree, it is nauseating. In regard to the CV abroad, I think it explains why Rudd is not worried about Gillard looking good in his job while he is away. He can go no further in Australia and the world stage beckons.

I think he sees himself as the future Secretary General of the Asian Union, (his brainchild) and stationed in Peking.

 

[MrBurns]

Re: Rudd in 'quantum of stimulus' calculation call

I think he sees himself as the future Secretary General of the Asian Union, (his brainchild) and stationed in Peking.

I think you may have nailed it.

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

All this stimulus stuff will come back to hit us in the back of the head one day, when it has to be repaid, this is dangerous stuff and Rudd and others are just throwing money away like confetti and has it worked NO, judging by the above article it hasn't changed anything except prop up a few banks.

So what do they do ? double up.

Our standard of living and into the next generation will pay for this.

It's the Ultimate World Poker Tourny.

"I'll see your rates and cut mine another 100BP!"

"I'll see your $500Billion Bailout & raise mine another $Trillion"

The World's Leading Players are becoming punch-drunk from a heady mix of believing they have un-limited funds to gamble with and a vastly increased sense of self-importance.

I can see why they have fallen under the spell.

But in the end, they are using maximum effort to effectively maintain the previous status quo free capitalist system whereby a miniscule number of filthy rich Ponzi's manipulated markets for their own personal mega-benefit whilst lording it over the hordes of relatively pauper hoipoloi.

Will Obama taking the reins shortly REALLY make a significant difference? I, too, feel that too many heavily vested interests are involved in the US for effective and fair change to really work. Ideas and plans always sound great from the sideline, but once you are told to get out on the field and lead your team to victory, all manner of power plays and personality differences suddenly start to come into effect.

I wish him luck.

KRudd? He is most certainly trying to make a name for himself as a "doer" in the international arena. I suspect he would have done this regardless of the state of the World Economy. He has basically set us on the path of "the American Way" with regard to Bailouts et all.

Whether that policy works for us in the long run (I think it is wrong for the same reasons as you, Mr Burns - we are going to get hocked to the eyeballs - then what if the handouts DON'T WORK?), we are about to find out!


aj

 

[MrBurns]

Re: Rudd in 'quantum of stimulus' calculation call

Whether that policy works for us in the long run (I think it is wrong for the same reasons as you, Mr Burns - we are going to get hocked to the eyeballs - then what if the handouts DON'T WORK?), we are about to find out!
aj

All countries are fast running out of interest rate room to juggle and all they can do then is to throw more money at it.

This can't go on forever, it's not working and when it hits the fan perhaps the real doomsayers will have it right after all.

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

All countries are fast running out of interest rate room to juggle and all they can do then is to throw more money at it.

This can't go on forever, it's not working and when it hits the fan perhaps the real doomsayers will have it right after all.

This will speed up the money flooding down the Gummints plughole... some here have said it doesn't matter if super funds have tanked. Well, this is what happens when self-funded retirees who have tried to do the right thing and not be a drain on society through no choice of their own HAVE to lodge for the age pension in the current financial meltdown because the return from their life's super savings has been savaged.

More people join aged pension queue
January 9, 2009 - 1:20PM

A surge in the number of people obtaining the aged pension puts extra pressure on the federal government to overhaul the scheme, the opposition says.

Fairfax reported there was a 50 per cent increase in aged care pensions granted between October and December last year.

The number of pensions granted rose from about 2,000 a week to 3,000. The financial crisis and the accompanying decline in the value of superannuation accounts and other assets are believed to be behind the increase.

Deputy Opposition leader Julie Bishop raised concerns about the increase in people qualifying for the pension.

"It is a big problem for the government," Ms Bishop told Sky News.

She said the government had to sort out issues around eligibility and the amount of the single aged pension.

The government says the single aged pension is not adequate, and senior government figures have said they could not live on it.

A review into the pension is underway and the government has vowed to deal with the issue.

"We now have more people on the pension at the single aged pension rate of $562 a fortnight ... obviously we'll be looking forward to the outcome of the review that the government has underway on pension eligibility and entitlements," Ms Bishop said.

She also questioned the wisdom of the government granting payments of at least $1,400 to pensioners and telling them to "spend, spend, spend". Now the money was probably spent, Ms Bishop said.

The government gave $1,400 to single pensioners and $2,100 to pensioner couples in December as part of its $10.4 billion package aimed at warding off a recession.

http://news.theage.com.au/national/more-people-join-aged-pension-queue-20090109-7dci.html

This situation will only worsen for each passing week.



aj

 

[Glen48]

Re: Rudd in 'quantum of stimulus' calculation call

BoE has the lowest rates since its inception315 yrs ago what does that tell you?
Where will OB get his money from for the Bail out?
What if China gets deeper into a recession and want their money back from USA?
Things are so bad and so much cost cutting they have switch off the light at the end of the tunnel.

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

BoE has the lowest rates since its inception315 yrs

Next player in line at the World Poker Tourney, Bank of Korea says "I'll see your rate".

Next bid, gentlemens?




Mebbe we should send Warnie along. He plays a tricky game I am told...

 

[Happy]

Re: Rudd in 'quantum of stimulus' calculation call

Somehow I suspect that Supernova name for stimulus (after Quantum name wears out) has better chance than Black Hole stimulus, which in my opinion better reflects current G20 or is it G220 efforts (not sure if we have that many countries registered and if every country participates).

Zimbabwe seems to have a head start; last money they printed was 200,000,000 or something of this magnitude - give or take few zeroes.

 

[Julia]

Re: Rudd in 'quantum of stimulus' calculation call

I think that any stimulus packages that encourage people to continue bad spending habits are bad policy.

Completely agree. What sort of philosophy does Rudd's pre-Xmas "Spend, spend, spend" urging inculcate in the minds of the already profligate population!

I think he sees himself as the future Secretary General of the Asian Union, (his brainchild) and stationed in Peking.

Yep, and in the meantime, he's determined to spend more millions of our tax dollars on acquiring that seat at the U.N. He has probably already written his own version of the history books.

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

Remember that big spendup on First Home Buyers?

What happened to stimulation of housing approvals since?

Nada.

Failed.

Next spend stimulus please, KRudd & Co....

 

[MrBurns]

Re: Rudd in 'quantum of stimulus' calculation call

Geez just reading the news today, Obama has hit the panic button , US jobless rate at 16 year high with 700,000 job losses last month alone, and another headline "British recession worsens as manufacturing sector slumps"

I cant feel it here yet, rates are down, Rudd had thrown some money at people to spend, petrol is down but we must be due for some real pain very soon, this is like the calm before the storm, dunno how bad it's going to be but probably pretty bad.

I dont think Rudd can do anything about it , I'm just concerned he's going to trash the economy further by throwing good money after bad, and believe me he WILL do that and it will take decades to get out of the mess that will follow.

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

Geez just reading the news today, Obama has hit the panic button , US jobless rate at 16 year high with 700,000 job losses last month alone, and another headline "British recession worsens as manufacturing sector slumps"

[size=+1]I cant feel it here yet[/size], rates are down, Rudd had thrown some money at people to spend, petrol is down but we must be due for some real pain very soon, this is like the calm before the storm, dunno how bad it's going to be but probably pretty bad.

I dont think Rudd can do anything about it , I'm just concerned he's going to trash the economy further by throwing good money after bad, and believe me he WILL do that and it will take decades to get out of the mess that will follow.

That's because we are blissfully living in "The Dreamtime".

We are Survivors and have the Hidden Immunity Idol.

Such a nice dream. Hopefully we don't have to wake up to boring reality.

 

[Trevor_S]

Re: Rudd in 'quantum of stimulus' calculation call

I'm all for protectionism.

I'm not...100% against in infact... and I hope the rest of the World doesn't ascribe to that insular point of view. Imagine if the World didn't buy our farming goods, our mineral ores, the country would collapse. AFAIK, we are the only country in the World to run a trade surplus with Japan for example ie they buy more of our crap then we by of their crap

The position is extremely grave and Aussies must choose Australia, not foreign,

I am all for picking Australian .. in a level playing field ie compete on quality, service and price not some esoteric concept of patriotism. I don't want to be taxed out the ying yang to protect industries that can't compete on the global stage and then be left with inferior products to boot.

his job is protecting Australia.

That seems a little naive, he's a politician, his "job" is to get re-elected.

if the supermarkets had Australian made sectioned off I would shop there first but they dont it's all mixed in together and no one can be bothered reading all the labels

Consumer apathy is no excuse, and I don't agree with your sentiment that it would change consumer behaviour... Lots of people shopping at places like Aldi (German owned) as well. Why ? Look at Cars for example, no label reading necessary there, lots of people don't buy Aussie made or even Aussie assembled cars.

We should be out there leading the World in alternate energy, massive hot rock geothermal plant, massive nation wide solar stations, with associated backup for 24/7 power generation, alongside a massive intra state DC backbone linking them up to feed the grid where necessary. Instead of spending $10Billion on handing out "beer and ciggie" money to welfare recipients, hows about investing it in that sort of infrastructure and the technology and training that will allow us to move forward 100 years into the future...

Look at that proposal from Shane Condon, a proposed a rail line from the Kimberly to North QLD, so we can freight coal to the WA (or Iron Ore to Qld) and smelt the iron ore at one end or the other, rather then send both commodities over seas, why not spend the money on those sorts of things instead of being fiscally irresponsible with it. I guess that won't win aa many votes...sigh

 

[Aussiejeff]

Re: Rudd in 'quantum of stimulus' calculation call

Apparently, KRudd & Co. are looking at chucking another "Quantum of Stimulus" package at the OzEcon soon.....

Any fantasy bets on the size of the Gummint's deficit by 1 Jul 2009?

I'll go for -$AUS30Billion.

 

[shaunQ]

Re: Rudd in 'quantum of stimulus' calculation call

I think he sees himself as the future Secretary General of the Asian Union, (his brainchild) and stationed in Peking.

Yeah, its what every child dreams of as they grow up. Prime minister of Australia is one thing - but Secretary General of some non-existent organisation is the way to go. And with a young family I'm sure he would be aching to move to Peking.

 

[MrBurns]

Re: Rudd in 'quantum of stimulus' calculation call

Yeah, its what every child dreams of as they grow up. Prime minister of Australia is one thing - but Secretary General of some non-existent organisation is the way to go. And with a young family I'm sure he would be aching to move to Peking.

He would love it, non stop talkfests, theorising about everything he knows nothing about, seminars, enquiries, summits and all at the expense of his good pal the Australian tax payer.
The never ending pit of money that he so generously splashes around.

 

[badger41]

Re: Rudd in 'quantum of stimulus' calculation call

A lot of reports about Self-Funded Retirees applying for the Age Pension. True or not? In our case certainly true!

We never thought we would need to apply, we had an allocated pension, we owned our house, and had a substantial share portfolio of "blue chip"shares, and no debt (luckily avoided finacial advisers). While we just might have scraped in to a $1/week pension back in March, after the first sub-prime drop, didn't really think about it too much. But did, thank heavens, cash out our allocated pension (no more fees, no more losses on the investments, no more dreaded 15% tax on capital if we die).

But then came October and November, and $200K disappeared in a matter of 2 months. Painful.

So, I swallowed my pride and visited Centrelink (extemely courteous and helpful), and at least we are now getting a small Age Pension to offset some of the pain of the GFC.

Don't know what the upcoming pension review will bring, wouldn't be surprised if we lose ours (tightening of assets test?), but I would like to see the NZ system introduced: Everyone gets an age pension on qualifying - no asset or income test. But fully taxable at your marginal rate. We could probably shut down half of Centrelink as a result, but then, that would add to unemployment, wouldn't it?

Cheers, Badger

 

[Happy]

Re: Rudd in 'quantum of stimulus' calculation call

A lot of reports about Self-Funded Retirees applying for the Age Pension. True or not? In our case certainly true!

Cheers, Badger

There were alarming voices about reduction of tax paying folks to benefit recipients.

My question is where is money going to come from should 10%, 20% or 50% tax paying positions disappear?

Hope it doesn't cut that deep.